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Posts Tagged ‘Jobs’
June 4th, 2021 at 10:17 am
Image of the Day: Another Disappointing Jobs Report Under Biden, and an Increasingly Likely Explanation
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This morning brought yet another disappointing monthly jobs report from the Labor Department.  While the Biden Administration continues to blindly insist that potential employees sitting on the sidelines because of cushy government unemployment payouts aren’t the problem, the people who actually hire people in order to continue their operations seem to recognize a different story.  Over 9 in 10 say that worker shortages are weighing them down – far and away their biggest problem.  We know the workers are out there, but they’re not taking the available jobs.

 

April 12th, 2021 at 1:05 pm
Amazon Workers Soundly Reject Unionization, and NR’s Kevin Williamson Highlights Another Great Reason Why: Big-Labor Corruption
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We’ve recently highlighted how right-to-work states, which the Biden Administration and Congressional leftists hope to abolish, dramatically outperform forced-union states in terms of job growth, manufacturing and household consumption.  Worker freedom from Big Labor bosses is a leading reason why in a high-profile vote, Amazon workers in Alabama voted to reject unionization by a 71% to 29% margin last week.

In a phenomenal new piece, National Review’s Kevin Williamson offers another reason for rejecting unionization that we mustn’t ignore:  big labor bosses’ widespread corruption.  Williamson lists a litany of union officials convicted and sentenced for embezzlement and other misuse of members’ hard-earned dues – in 2020 alone.  Accordingly, the leftist anti-capitalist drumbeat just didn’t resonate with workers who were forced to choose their path:

It is easy to imagine a world in which American labor unions performed a valuable service in the labor market, as unions do in some other countries and as ours have at times in the past.  But that is not the world in which we live.  In our world, a small and declining share of private-sector workers belong to unions, which derive their clout from the fact that so many government functionaries — see the teachers- and police-union officials listed above — belong to unions…  The more money going into the union coffers, the more that can be transferred to Democratic campaign committees and super-PACs.  That’s a lot of foxes watching a lot of henhouses…

The Amazon workers in Alabama decided that it is better to have the market on your side than to have a cartel on your side. Smart call. The rest of the country should take note.”

 

Alarmingly, Joe Biden, Chuck Schumer, Nancy Pelosi and leftists generally seek to impose laws depriving workers of that choice.  From the looks of things, everyday workers aren’t buying into it.

March 29th, 2021 at 9:46 am
Image of the Day: Guess Which States Boast Lower Unemployment Rates?
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From economist and friend Stephen Moore, the latest inconvenient truth:

South Dakota tops the list again at 2.9% unemployment – exactly the same as where it was 12 months ago. The only states with Democratic governors in the top 10 – Kansas and Wisconsin – had Republican legislatures and courts that blocked school closures and lockdown orders. And the same basket case lockdown states are at the bottom – California, New York, Hawaii – barely recovering still.”

Guess Which States Excel

Guess Which States Excel

March 16th, 2021 at 10:58 am
Image of the Day: Right-to-Work States, Which Leftists Hope to Kill, Outperform Compulsory Unionization States
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The Biden Administration outrageously hopes to curtail American workers’ freedom by eliminating Right-to-Work states (currently 27), and the House of Representatives just passed legislation accordingly.  Preposterously, breathtakingly dishonest and dishonorable leftists like Rep. Tim Ryan (D – Ohio) make the Orwellian claim that doing so actually advances worker freedom.  That’s a lie, as economist Stephen Moore highlights.  But more broadly, American’s must understand what a threat this is to their jobs and our economic welfare more generally, before it’s too late:

 

Right-to-Work States Excel

Right-to-Work States Excel

February 8th, 2021 at 12:53 pm
Image of the Day: On Leftist Policies and Unemployment, the Song Remains the Same
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We often highlight how Barack Obama didn’t end the 2008-09 recession or “prevent the next depression” (despite incessant uninformed assertion to the contrary), but instead captained the worst post-recession “recovery” in U.S. history.  As helpfully illustrated by economist Steve Moore, that just continues the longstanding record of leftist economic failure:

 

 

New Deal Debacle

New Deal Debacle

 

 

January 29th, 2021 at 10:28 am
Image of the Day: On Unemployment, “Red” States Outperform More Pro-Lockdown “Blue” States
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As they say in the legal field, “res ipsa loquitur” – the fact speaks for itself.  From our friend and economist Stephen Moore’s blog:

 

“Red” States Outpace “Blue” States

November 12th, 2020 at 11:49 am
Images of the Day: Unemployment Claims Plummeted Faster After $600 Checks Expired
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As the nation debates continuing coronavirus stimulus, AEI offers an eye-opening analysis:  Unemployment claims plummeted and the employment picture improved much faster after those $600 checks expired, reestablishing that while we always want to help those who cannot help themselves, government payouts can sometimes reduce incentives and ability to return to the workforce.  And this doesn’t even reflect remarkably positive employment reports released by the government since the end dates:

 

Unemployment Claimes Dropped

Continuing Unemployment Claims Dropped

 

 

 

 

Initial Unemployment Claimes Dropped

Initial Unemployment Claims Dropped

September 25th, 2020 at 10:05 am
Image(s) of the Day: The Obama/Biden Jobs “Recovery” Versus Trump’s
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From our friends at AEI, a wonderful capture of the difference between the Obama/Biden jobs “recovery,” which was the worst in recorded U.S. history (as the graph shows, they promised that unemployment wouldn’t surpass 8% under their wasteful spending “stimulus,” but instead it exceeded 8% for a record uninterrupted stretch), versus the sharp recovery under President Trump:

The Obama/Biden Jobs

The Obama/Biden Jobs “Recovery”

 

 

 

The Trump Actual Jobs Recovery

The Trump Actual Jobs Recovery

June 5th, 2020 at 9:46 am
Trump Bump: Record New Jobs Added in May, Unemployment Unexpectedly Plummets
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Defying nearly universal economists’ expectations, it was just announced that the American economy added a record 2.5 million jobs last month, and the unemployment rate actually fell sharply to 13.3%.  Surveyed economists had anticipated a loss of 8.3 million jobs, and a rise in unemployment to 19.5%.  The Dow instantly shot up nearly 1,000 upon opening, and we’re nearly back to its pre-coronavirus record levels.

 

March 6th, 2020 at 8:46 am
Breaking: Incredible U.S. Jobs Growth in February
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This is incredible.  Amid the coronavirus scare and economic malaise across the rest of the world, the Labor Department reports that job growth in the U.S. exceeded expectations by 100,000 in February:

Nonfarm payrolls grew far more than expected in February as companies continued to hire amid a growing coronavirus scare.  The Labor Department reported Friday that the U.S. economy added 273,000 new jobs during the month, while the unemployment rate was 3.5%.  Economists surveyed by Dow Jones had been looking for payroll growth of 175,000 and a 3.5% jobless level.  Average hourly earnings grew by 3% over the past year, in line with estimates.”

Although the effects of the coronavirus create uncertainty going forward, the Trump Bump has continued.

February 14th, 2020 at 10:06 am
Image of the Day: Economy Even Better Than We Realized
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Americans already expressed record satisfaction on economic conditions in the U.S., over three years into President Trump’s tenure.  Turns out that things are even better than we initially realized, as employment data from the end of 2019 was just significantly updated:

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Even Better Than Initially Realized

Even Better Than First Realized

 

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January 8th, 2020 at 12:02 pm
Image of the Day: Lowest-Wage Industries Benefit Most Under Trump
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From the official federal Bureau of Labor Statistics and our friends at the American Enterprise Institute (AEI), a nice visualization of how the Trump economic agenda has most benefited those in the lower-wage industries starting in 2018 after tax reform took effect.  So much for leftists’ class warfare attacks on tax cuts and deregulation.

 

A Trump Bump

A Trump Bump

 

 

June 14th, 2019 at 2:30 pm
Image of the Day: Gallup Poll on Americans’ View of Job Market Hits All-Time Record
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In our Liberty Update commentary entitled “No, Scandinavia Doesn’t Vindicate Socialism” this week, we rightly ridicule admitted socialist Bernie Sanders, including his odd claim that “we now have an economy that is fundamentally broke and grotesquely unfair.”  Well, as this Gallup survey illustrates, he’s swimming upstream against American public opinion.  Specifically, in a survey that Gallup has conducted periodically since 2001, the public’s view of the job market has now hit an all-time record high:

Sorry, Socialists

Sorry, Socialists

 

Perhaps this helps explain why Sanders has suddenly plummeted in 2020 Democratic candidate surveys, although one wonders how long people like Elizabeth Warren can avoid the same fate.

January 28th, 2019 at 3:06 pm
Image of the Day: New Jobless Claims Plummeting
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Last week, new jobless claims fell below the milestone 200,000 level, and to the lowest point since the 1960s (when the labor force was significantly smaller).   In this chart, note also the steep drop starting in 2017 with the tax-cutting and deregulatory agenda that arrived with the Trump Administration, after the number of new claims had plateaued toward the end of the Obama Administration:

Jobless Claims Plummet

Jobless Claims Plummet

 

 

August 24th, 2018 at 12:56 pm
Quote of the Day: From Obama Stagnation to Trump Acceleration
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Obama apologists desperately claim that the current economic acceleration is somehow attributable to him, never mind that the acceleration began as soon as the Trump Administration began reversing Obama policies by cutting taxes and reducing regulation.  In The Wall Street Journal today, two Arizona State University professors – Nobel laureate Edward Prescott and Lee Ohanian – debunk that claim in a commentary entitled “The Good Times Can Roll On.” As an ASU alumnus, it offers particular pleasure to recommend their entire piece for reading and passing along to others who may need it:

It’s clear the recovery ended in 2014 because the two hallmarks of recovery –  investment’s share of gross domestic product and labor input relative to the adult population – stopped increasing.  This left a large gap between actual output and the output level that would have occurred had the economy recovered to its prerecession growth path.  According to our calculations, the U.S. cumulatively lost about $18 trillion in income and output between 2007 and 2016.  Everything suggested this shortfall would persist or even grow.

Yet economic performance began to improve beginning in the first quarter of 2017.  Real GDP growth accelerated to about 2.7% between the end of 2016 and the second quarter of 2018, up from about 2% between 2014 and the end of 2016.”

Oh, and as football season approaches, go Sun Devils.

August 20th, 2018 at 1:20 pm
Image of the Day: What Deregulation and Tax Cuts Do for Job Growth
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Here’s what a steady diet of deregulation and tax cuts have done in terms of job creation expectations from even the notoriously wet-blanket Congressional Budget Office:

Deregulation + Tax Cuts = Jobs Boost

Deregulation + Tax Cuts = Jobs Boost

July 6th, 2018 at 1:17 pm
Latest Jobs Report: 600,000 Americans Come Off the Sidelines and Get In the Game
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Today brought yet another impressive U.S. employment report from the Labor Department, with an unexpectedly high 213,000 new jobs added in the month of June (versus the expected 195,000).

But the report includes a particularly impressive number after nearly a decade of people just giving up on working during the Obama era malaise.  Over 600,000 Americans decided that the market is so hot that they got off the sidelines and entered the game:

The increase in the unemployment rate came due to a rise in the labor force participation rate, which increased 0.2 percentage points to 62.9 percent as 601,000 people came off the sidelines and re-entered the labor force.”

Continuing the sports analogy, The Wall Street Journal notes that what we’re witnessing is a different kind of ballgame under the Trump Administration than the unprecedented economic sluggishness that characterized the Obama “expansion”:

Steady hiring and low unemployment shows the labor market continues to be an area of strength for the economy since the recession ended nine years ago.  What might be different now is that other aspects appear to be picking up steam.  Some economists project economic output rose at better than 4% annually in the second quarter for the first time since 2014.

Rising consumer spending, manufacturing output and exports are expected to have contributed to the gain, set to be officially reported later this month.  If sustained, that would be a turn from much of the expansion in which hiring has been consistent, but growth has been sluggish, holding near a 2% annual rate.  One explanation is wages.  Even though Americans were finding jobs, scant raises left them with little room in their budgets to step up spending.”

It’s amazing what an economic agenda of tax cuts and deregulation can do for an economic cycle that was supposedly on weary legs and amid an era of “secular stagnation” when solid growth was a thing of the past.

June 11th, 2018 at 12:40 pm
Image of the Day: Available Jobs Outnumber Unemployed for First Time Ever
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In our latest Liberty Update, we note how the U.S. has quickly reclaimed its position as the world’s most competitive economy under President Trump after slipping under Barack Obama.  This image vividly illustrates one point we highlight – that for the first time ever, the number of job openings exceeds the number of unemployed Americans in the workforce to fill them:

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Jobs, Jobs, Jobs

Jobs, Jobs, Jobs

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April 30th, 2018 at 10:12 am
Image of the Day: A Jobs Boom
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It’s almost as if the wave of deregulation and tax cuts had some sort of impact.  The Congressional Budget Office (CBO), no refuge of supply-side enthusiasts, just boosted its job growth estimate by 2.6 from last year’s estimate:

Deregulation and Tax Cuts:  Jet Fuel For Jobs

Deregulation and Tax Cuts: Jet Fuel For Jobs

April 18th, 2018 at 9:52 am
Image of the Day: Job Growth Estimate Boosted
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So after just one year of tax-cutting and deregulation under the Trump Administration, the Congressional Budget Office (CBO) has revised its estimate of job growth over the next decade upward by over 2.5 million new jobs.  As they say in the legal field, “res ipsa loquitur” – “the fact speaks for itself.”

Upward Job Growth Estimate

Upward Job Growth Estimate